EU reportedly proposes €750 billion in coronavirus stimulus fund – Bloomberg

Eren Sengezer FXStreet

Citing EU sources, Bloomberg reported that the EU has proposed €750 billion in pandemic stimulus fund with €390 billion in grants.

Earlier in the hour, European Council President Charles Michel noted that negotiations had been very difficult but added that he was convinced an agreement was possible.

Market reaction

This headline doesn't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1440, adding 0.12% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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